Over the past several days Bitcoin has experienced a large drop in value. The entire market has followed this trend, with Ethereum, Bitcoin Cash, and Ripple all declining by similar margins. Analysts have attributed the recent fall to a massive sell-off of almost 40,000 Bitcoin by a Mt. Gox trustee. Sponsored Mt. Gox Sell-off Tokyo-based cryptocurrency exchange Mt. Gox was formed in 2010, and just four years later was responsible for over 70% of all Bitcoin transactions worldwide. Unfortunately, in 2014 the exchange closed down and filed for bankruptcy following the theft of approximately 850,000 Bitcoin. The problem today...

BTC/USD chart is showing a possible double top pattern, which, if it completes, could result in BTC dropping down to $7,000. Sponsored Bitcoin’s price chart shows a double top after failing to breach $12,000 for the second time. This bearish signal is a strong indicator of an imminent fall if it continues to break down past the $9300 support. What is the Double Top trading pattern A double top pattern is a strong indication of when an asset’s price trend is likely to reverse. It is typically characterised by (A) a strong bullish uptrend that fails to...

Two Russian-based social networking platforms have announced they are now accepting cryptocurrency payments. Vkontakte, the most popular social media among Russian-speaking users, and Odnoklassniki, which has many subscribers in former Soviet states, will take bitcoin from advertisers. They also intend to start paying developers and partners in cryptocurrency. Sponsored BTC and BCH Payments to Be Processed by Bitpay Both Bitcoin (BTC) and Bitcoin Cash (BCH) will be accepted by a platform that the two social networks work with, Mytarget. Cryptocurrency transactions will go through the My.com subsidiary of Mail.ru Group and will be processed by the U.S. based payment service provider Bitpay....

Over the past 24 hours, the cryptocurrency market has recorded large gains, as every major cryptocurrency including bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin recovered in value. Bitcoin and Ethereum Bitcoin demonstrated an 11 percent increase in price, moving closer to the $10,000 mark, which analysts often describe as the psychological threshold for the cryptocurrency. As CCN noted in the past, because the market tends to follow the trend of bitcoin in terms of massive volatility, over the past 24 hours, most cryptocurrencies have followed bitcoin’s upward momentum. Since yesterday, the price of bitcoin rose from $8,840 to $9,900, by...

After a week of robust gains in the cryptocurrency market, the No.1 digital asset, bitcoin, has run into resistance as industry headwinds put its recent rally in jeopardy. “Bitcoin seems to be facing difficulties in moving beyond $9,000. The increase in mining complexity and the peak output of new capacities to the market at the end of 2017 have led to miners facing several issues after price correction,” FX Pro said in a morning report Tuesday. The price of a single bitcoin BTCUSD reached an overnight high of $8,973.12 but have since retraced to a session low of $8,370.48, according to CoinDesk....